Tractor Supply (NASDAQ:TSCO) Now Covered by Melius Research

Stock analysts at Melius Research assumed coverage on shares of Tractor Supply (NASDAQ:TSCO) in a note issued to investors on Monday, Benzinga reports. The brokerage set a “buy” rating and a $315.00 price target on the specialty retailer’s stock. Melius Research’s price objective indicates a potential upside of 13.48% from the stock’s previous close.

A number of other research firms have also recently commented on TSCO. Evercore ISI reduced their target price on shares of Tractor Supply from $290.00 to $280.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Wells Fargo & Company boosted their target price on shares of Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Benchmark reissued a “buy” rating and set a $280.00 target price on shares of Tractor Supply in a research report on Friday, July 26th. Wedbush reissued a “neutral” rating and set a $270.00 target price on shares of Tractor Supply in a research report on Friday, July 26th. Finally, Loop Capital boosted their target price on shares of Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $258.96.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO opened at $277.57 on Monday. The company has a market cap of $29.92 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 3.56 and a beta of 0.80. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $290.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25. The company has a 50-day simple moving average of $268.04 and a 200-day simple moving average of $267.27.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.93. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. Tractor Supply’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.83 earnings per share. On average, equities analysts anticipate that Tractor Supply will post 10.23 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the sale, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Several large investors have recently bought and sold shares of the stock. Signature Wealth Management Group increased its stake in Tractor Supply by 0.5% during the 2nd quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer’s stock valued at $1,890,000 after buying an additional 38 shares during the period. X Square Capital LLC boosted its position in shares of Tractor Supply by 1.6% during the 2nd quarter. X Square Capital LLC now owns 2,579 shares of the specialty retailer’s stock valued at $696,000 after purchasing an additional 41 shares in the last quarter. Eads & Heald Wealth Management boosted its position in shares of Tractor Supply by 0.6% during the 2nd quarter. Eads & Heald Wealth Management now owns 7,040 shares of the specialty retailer’s stock valued at $1,901,000 after purchasing an additional 42 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Tractor Supply by 60.9% during the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Tractor Supply by 1.2% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,464 shares of the specialty retailer’s stock valued at $935,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

About Tractor Supply

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.